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Terrace Park, OH—45174

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$792,000
6.1% YoY Growth
Household Income
$206,000
25.5% YoY Growth
Days on Market
45
556.0% Longer YoY
Home Price Forecast
1.4%
Median Rent
N/A
N/A
1-Bed Rent
N/A
N/A
2-Bed Rent
N/A
N/A
3-Bed Rent
N/A
N/A
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Terrace Park, OH

As of May '26, the median home price in Terrace Park, OH is $792,000, with a year-over-year change of 6.1%. This indicates that home prices in Terrace Park, OH are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$792,0006.1%
Single Family $793,0006.4%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		N/AN/A
    3 Bed
    		$594,0006.1%
    4 Bed
    		$916,0005.7%
    5 Bed $1,269,0629.0%
    Loading chart...

    % of Housing Stock

    2 Bedrooms
    6.6%
    3 Bedrooms
    33.5%
    4 Bedrooms
    42.4%
    5+ Bedrooms
    17.4%

    Rental Trends — Terrace Park, OH

    Terrace Park, OH lacks sufficient rental market data for analysis.

    TypeMedian RentAverage Rent
    Average RentN/AN/A
    Studio Rent N/AN/A
    1 Bed Rent N/AN/A
    2 Bed Rent N/AN/A
    3 Bed Rent N/AN/A
    4 Bed Rent N/AN/A
    Loading chart...

    % of Rental Stock

    2 Bedrooms
    24.2%
    3 Bedrooms
    33.3%
    4 Bedrooms
    42.4%

    Property Listings — Terrace Park, OH

    As of May '26, Realtor.com reports that the median days on market for a home in Terrace Park, OH is 45. This is a increase of 556.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 67.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$730,000-19.0%
    Listing Count
    		660.0%
    Listings as % of HomesN/A60.0%
    Days on Market
    		45556.0%
    Loading chart...

    Demographics — Terrace Park, OH

    As of the latest ACS Survey released in 2023, Terrace Park, OH has a population of 2,290, which has decreased by -2.4% over the past 5 years. Terrace Park, OH is a popular place for families, as children make up 36.3% of the population. The area has a highly educated workforce, with 85.8% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 30.1% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		2,290-2.4%
    % Under 18
    		36.3%7.4%
    % Seniors
    		11.8%24.2%
    % WFH
    		30.1%176.1%
    % w/ College Degree
    		85.8%3.1%
    Loading chart...

    As of the latest ACS Survey released in 2023, Terrace Park, OH is a predominantly white area, with 89.8% of the population identifying as white. The white population has shrunk by 6.3% in the last 5 years. The second most common race or ethnicity in Terrace Park, OH is hispanic, making up 5.4% of the population. Foreign-born residents account for 2.4% of the population in Terrace Park, OH, and this percentage has decreased by 54.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		89.8%-6.3%
    % Black
    		0.0%-100.0%
    % Hispanic
    		5.4%86.2%
    % Asian
    		0.4%-33.3%
    % Foreign Born
    		2.4%-54.7%
    Loading chart...

    Mortgage and Risk — Terrace Park, OH

    According to HUD data as of 2023, there were 46 mortgage originations in Terrace Park, OH, of which 100.0% of loans were conventional mortgages. The average loan-to-value was 48.0%, with 4.0% above 90% LTV (normal). This implies small mortgage risk in Terrace Park, OH. Investor activity is low, as 0.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		46
    % Conventional Loans
    		100.0%
    % Government Loans
    		0.0%
    % Investor Loans
    		0.0%
    % Second Loans
    		0.0%
    % Cash Out Refinance
    		4.0%
    Loading chart...
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    Rentals and Section 8 — Terrace Park, OH

    Terrace Park, OH lacks sufficient Section 8 program data for analysis.

    Section 8 Market Size

    Total Units under HUD
    		N/A
    Total Units Section 8
    		N/A
    % Rentals under Section 8
    		N/A
    % Occupied Section 8
    		N/A

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 BedroomN/AN/A$1,490
    2 BedroomN/AN/A$1,930
    3 BedroomN/AN/A$2,560
    4 BedroomN/AN/A$2,830

    Affordability — Terrace Park, OH

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.1
    Median Home Price$792,000
    Median Household Income$206,000

    Terrace Park, OH — ZIP Code Boundary Map

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    Frequently Asked Questions